Ingles Markets, Incorporated Declares Quarterly Cash Dividend

Rhea-AI Summary

Ingles Markets declared a cash dividend of $0.165 per share on Class A Common Stock and $0.15 per share on Class B Common Stock, amounting to annual rates of $0.66 and $0.60 respectively. The dividends are payable on October 15, 2020, to shareholders of record on October 8, 2020. Ingles operates 197 supermarkets across six southeastern states, with a focus on community-oriented services.

Positive

• Declared a cash dividend of $0.165 for Class A and $0.15 for Class B shareholders.
• Annual dividend rates of $0.66 for Class A and $0.60 for Class B reflect company confidence.
• Operates a substantial network of 197 supermarkets, enhancing shareholder value.

Negative

• None.

ASHEVILLE, N.C.--(BUSINESS WIRE)--Ingles Markets, Incorporated (NASDAQ: IMKTA) today announced that its Board of Directors has declared a cash dividend of $0.165 (sixteen and one-half cents) per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable October 15, 2020, to all shareholders of record on October 8, 2020.

Ingles Markets, Incorporated is a leading grocer with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 197 supermarkets. In conjunction with its supermarket operations, the Company operates neighborhood shopping centers, most of which contain an Ingles supermarket. The Company also owns a fluid dairy facility that supplies Ingles supermarkets and unaffiliated customers. To learn more about Ingles Markets visit ingles-markets.com.